Disbursements of official development assistance (ODA) loans increased 27 percent to $15.8 billion in 2023 compared to the disbursement flows in 2022, the National Economic and Development Authority (NEDA) said Thursday.
NEDA said the amount represents the cumulative disbursements from the 113 active loans and accounts for about 45 percent of the total net commitment of $35.07 billion.
“This is a welcome opportunity as we boost the government’s capabilities and introduce crucial reforms to sustain our country’s socioeconomic progress,” NEDA Secretary Arsenio Balisacan said.
“We assure the public that the government is maximizing the opportunity to utilize additional funding for economic recovery and infrastructure development under the Marcos Administration’s Build-Better-More program,” he said.
NEDA said that as of end-2023, cumulative disbursements for 23 program loans totaled $6.9 billion, representing a utilization rate of 68 percent. This marked a decrease of 23 percentage points from the 2022 rate of 91 percent.
Total disbursements of active project loans in 2023 reached $2.43 billion, representing a net increase of $221.81 million from $2.21 billion disbursed in 2022.
The active ODA loans portfolio totaled $35.07 billion in 2023, including 23 program loans valued at $10.13 billion and 90 project loans totaling $24.94 billion.
Project loans dominated the portfolio, representing 71 percent of the total loan net commitment, while program loans accounted for 29 percent.
Japan reclaimed the largest share of ODA in the country, accounting for 32 percent ($12.07 billion for 81 loans/grants) of the active ODA portfolio.
This was followed by the Asian Development Bank with 31-percent share ($11.43 billion across 62 loans and grants), having been the largest provider in 2022. The World Bank accounted for 22 percent ($8.19 billion across 31 loans and grants), while the AIIB contributed 5 percent ($1.70 billion across 6 loans).
China rounded out the top five development partners with a 3-percent share ($1.16 billion across 11 loans and grants).
